Steel Products
Final Thoughts
Written by John Packard
February 22, 2013
I was watching the daily results from our SMU steel survey which began on Monday of this week. I found it curious those working on Monday (a holiday to some, but not all in the U.S.) were much more negative than those who responded to our survey as the week progressed. Our SMU Steel Buyers Sentiment Index was at +11 on Monday but by the close of the survey on Thursday had improved to +22…
We have discontinued reporting SMU Future Steel Buyers Sentiment Index numbers – however, the data is still being collected and reported on our website. You can access the data in the Research section of our website: www.SteelMarketUpdate.com.
The final tally of opinions as to which company or joint venture group would be the best fit to operate the ThyssenKrupp Calvert, Alabama facility – USS/JFE = 37%, Nucor = 22%, CSN and ArcelorMittal/Nippon tied with 17.5% each and bringing up the rear was Posco with 6%. The biggest reason given for USS/JFE was their excess slab supply out of their Alabama facility located in Birmingham. Nucor was mentioned as the #2 option with their new DRI facility in Louisiana (which has the permits to eventually put in a blast furnace/BOF and make slabs).
In Sunday night’s edition of SMU we will discuss more issues which were covered in this week’s survey. Our next survey will begin on Monday, March 4th.
As always your business is truly appreciated.
John Packard
Read more from John PackardLatest in Steel Products
OCTG producers in Canada take aim at Mexico, US, others
Evraz NA and Welded Tube of Canada have lodged an unfair trade complaint against imports of OCTG, including those from USMCA trading partners Mexico and the US.
Final Thoughts
The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.
CRU: US rebar and wire rod prices rise alongside S232 increase
CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.
CRU: Excessive global supply could hit rebar mill investments in US
Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]
Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.